The world this week – Deutsche Bank

FXStreet (Delhi) – Research Team at Deutsche Bank, suggests that looking at this week’s calendar, we’ve got a busy day of data kicking off in Europe with the final revisions to the manufacturing PMI’s (January) for the Euro area, Germany and France.

Key Quotes

“UK money supply and credit aggregates data is also due this morning. Over in the US this afternoon we’ll get the December core and deflator PCE data along with personal income and spending, manufacturing PMI, construction spending and the important ISM manufacturing and prices paid.

It’s a quieter session on Tuesday with just Euro area PPI and German unemployment data in the morning, before we get vehicle sales data and the IBD/TIPP economic optimism print in the US in the afternoon.

Wednesday starts in China where we’ll get the Caixin services and composite PMI prints. We’ll also get the non-official readings for Japan before we get the final revisions for the services and composite prints for the Euro area, Germany and France along with readings for UK, Italy and Spain. Euro area retail sales is also due. Over in the US on Wednesday the ADP employment change print for last month will be closely followed for clues ahead of Friday. The ISM non-manufacturing print is the other big release along with the final services and composite PMI’s.

The main focus during the morning session on Thursday will be on the UK where the BoE rate decision is due. Over in the US we’ll get final revisions to those soft December durable and capital goods orders data, along with initial jobless claims, nonfarm productivity, unit labour costs and December factory orders.

The only data of note on Friday in Europe will be German factory orders. Over in the US the main event will of course be the January employment report where we’ll get payrolls, unemployment, participation rate and weekly earnings data. If that wasn’t enough we’ll also get the December trade balance and consumer credit data.

In terms of Fedspeak this week we’ve Fischer due to talk tonight and George scheduled to speak tomorrow evening. The other big focus of the week will of course be on the corporate earnings with 119 S&P 500 companies set to report with the highlights including Alphabet, Exxon Mobil, Pfizer, Merck and Kraft Heinz. Over in Europe meanwhile we’ve got 75 Stoxx 600 companies set to report their latest quarterlies including Royal Dutch Shell, GlaxoSmithKline and BP.”
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